Alpine Income Property Trust Q2 2025 Earnings Call Transcript

Alpine Income Property Trust (PINE) reported Q2 2025 earnings, with CEO John Albright and CFO Philip Mays participating in the conference call. The discussion covered the company's financial performance, with a focus on the principal points of the earnings release. The summary should range between 30 and 90 words.

Alpine Income Property Trust (PINE) reported its Q2 2025 earnings, with CEO John Albright and CFO Philip Mays participating in the conference call. The company reported a 2.3% increase in FFO per share, driven by investment activity and property sales. The portfolio consists of 129 properties, totaling 3.9 million square feet across 34 states, with a 98.2% occupancy rate. The company sold five net lease properties for $16.5 million, reducing its exposure by 100 basis points to 7% of ABR. The company also provided seller financing and originated commercial loans totaling $6.6 million. Total revenue was $14.9 million, including lease income of $12 million and interest income from commercial loans of $2.7 million. AFFO over the quarter was $0.44 per diluted share, representing 2.3% growth. The company repurchased 273,000 common shares for $4.3 million and increased its quarterly cash dividend to $0.285 per share. The company ended the quarter with net debt to pro forma adjusted EBITDA at 8.1x and $57 million of liquidity. The company expects to close 1-2 structured loan investments in the second half of the year.

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